China's PPI up 3.1 pct, CPI 2.1% in March

[Photo: IC]

China's producer price index (PPI), which measures costs for goods at the factory gate, rose 3.1 percent year on year in March, the National Bureau of Statistics (NBS) said Wednesday.

The pace was down from a rise of 3.7 percent recorded in February, as growth in factory prices of production materials and consumer goods both moderated, according to NBS statistician Sheng Guoqing.

In the first quarter, PPI rose by 3.7 percent year on year, easing from 5.8-percent growth in the fourth quarter of 2017.

The moderation was normal, considering a high comparison base, NBS said in a statement.

On a month on month basis, PPI dropped 0.2 percent in March.

In breakdown, factory prices in the gas production and supply sector declined 1.7 percent compared with February, while factory prices in the automobile manufacturing industry went down by 0.2 percent.

Bucking the trend, factory prices in the paper-making and paper products sector jumped 1.3 percent compared with February, and 9.2 percent year on year.

NBS data also showed that China's consumer price index (CPI), a main gauge of inflation, rose 2.1 percent year on year in March, easing from growth of 2.9 percent for February.